Business Planning

The work involved in overseeing a successful business is never done. As a result, we see business owners so focused on the concerns of the business that they tend to overlook some of the big picture questions and personal planning issues. Family-owned businesses can create even more complex planning challenges, particularly in regard to succession. Clients often don’t anticipate that joint business ownership among heirs, as well as long-term buyout arrangements among family members, may create significant conflicts.

• What is the owner/management succession plan? How will the succession plan be financed?
• What would happen to the business if key employees/family members passed away unexpectedly?
• Do I want to be in business with my business partner’s family after their passing?
• Are there business debts, taxes, guarantees or liabilities that may come due should an owner die?

Not only can these conversations be emotional, most business owners are unsure of how to approach this sort of planning. At Financial Designs Ltd., we have decades of experience in advising business owners and work with many family-owned businesses on these topics.

We collaborate with existing advisors to help clients assess risks, clarify their objectives and develop buy/sell, estate and insurance solutions to address concerns.

Through our relationship with M Financial Group our clients gain access to exclusively priced proprietary products that are not available through traditional agents or brokers. Many of these products feature pricing enhancements that are passed along to new and existing clients, a practice that is rare in the industry.